Thursday, December 3, 2009
Bank of America to pay back TARP
But nothing is done in a vacuum on Wall Street. Valerie Jarret, Obama's style pimp, was on CNBC touting Treasury's plan, and bragging how BAC was paying back taxpayer money.
Now she's Geithner's style pimp!
But check out how the banks aren't reserving for loan losses. Which means that either a whole lot of bad looking loans will be good, or the bad loans are being under reserved to cook the current banks books.
But if the latter was the case, then banks wouldn't be lending, and then, all their cash would be sitting in reserves at the Fed. Oh that's right--So what is with that trillion of reserves?
But whatever the truth, the market viewpoint, is the only one that we get paid on. And they're buying it!
Posted by Palmoni at 8:04 AM